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MAG Capital Partners acquires White Plains Linen HQ facilities via sale leaseback

Peekskill, NY MAG Capital Partners has acquired two modern industrial facilities along the Hudson River, in a sale-leaseback transaction with White Plains Linen, the premier linen supply provider in the tri-state area serving restaurants, caterers

Vornado Realty Trust
leases 203,000 s/f to Verizon

Manhattan, NY Vornado Realty Trust said that Verizon will relocate its New York headquarters to PENN 2, Vornado’s reimagined office tower in The Penn District campus. As part of a 19-year lease, Verizon will occupy 200,000 s/f in office space across the eighth

Arrow arranges $61 million financing
for acquisition of 5 Hanover Sq.

Manhattan, NY Arrow Real Estate Advisors arranged $61 million in financing for the acquisition of 5 Hanover Sq., a 300,000 s/f office building in the Financial District. The financing supports a joint venture between Samuel Fisch and David Werner and

Merchants Capital secures $60.5 million
for 602-unit Ocean Park Apartments

Queens, NY Merchants Capital closed $60.5 million in total financing for Tredway’s acquisition and preservation of Ocean Park Apartments, a 602-unit affordable housing community in Far Rockaway.

Question of the Month: How can a surveyor accelerate the development process? by Rich Guisado

When it comes to land development, choosing the right surveyor is more than checking a box – it can critically impact your project. For developers, surveys lay the groundwork for everything that follows, from accurate designs and permitting to keeping schedules

Metro Realty leases 2,000 s/f to Rizzo Restoration

West Babylon, NY Michael Pisciotta and Jeremy Hackett of Metro Realty Services leased 2,000 s/f at 110 Bell St. to Rizzo Restoration LLC.

TerraCRG closes $2.16 million sale of 1375 Bedford Ave.

Brooklyn, NY TerraCRG closed on the sale of 1375 Bedford Ave., a three-unit mixed-use property located at the intersection of Bedford Ave., Bergen St. and Rogers St. in Crown Heights. TerraCRG’s Matt Cosentino, Remi Norris and Daniel Chung

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account

Clear Street signs long-term extension/expansion at 4 World Trade Center

Manhattan, NY According to Silverstein Properties, Clear Street has committed to a 10-plus-year lease extension, as well as an expansion to grow its headquarters to nearly 88,000 s/f at 4 World Trade Center, the 72-story tower in Lower Manhattan.

Simone Development leases 1,909 s/f medical space to North Dermatology

Queens, NY Simone Development Companies negotiated a new long-term lease with North Dermatology for 1,909 s/f of medical space at 35-30 Francis Lewis Blvd. in Flushing.